Hellix Announces Silver Assays From USBM Program at Margarita
July 26 2011 - 1:25PM
Marketwired
HELLIX VENTURES INC. (TSX VENTURE: HEL)(PINK SHEETS: HLLXF) - Frank
Underhill, President, is pleased to announce the addition of silver
assay results from the USBM sampling corroboration program
announced in the Company's last news release dated June 7, 2011.
Initially, samples were assayed only for gold. The program was
designed to corroborate the samples taken by the United States
Bureau of Mines in their MLA 24-94 report which included only gold
results. After discussions with our geologist and the property
vendor, the Company requested the samples also be tested for
silver.
For the purpose of clarity, the corresponding gold assays
previously reported June 7, 2011 are also included below in ounces
per metric tonne (oz/Mt). Anomalous silver values only (6 ppm or
greater) are shown as oz/Mt.
TABLE 1. HELLIX USBM CORROBORATION SAMPLE RESULTS AU/AG
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SAMPLE Au Au Au Ag Ag Ag
NUMBER (ppb) (oz/Mt) (g/Mt) (ppm) (oz/Mt) (g/Mt)
---------------------------------------------------------------------------
BM1 2430 .071 2.43 2.6
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BM2 1890 .055 1.89 0.4
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BM3 1710 .050 1.71 5.6
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BM4 890 .026 .890 1.6
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BM5(i) 60 .002 .060 0.2
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BM6 greater than 3000 .106 3.63 2.2
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BM7 2610 .076 2.61 3.6
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BM8 greater than 3000 .099 3.39 2.2
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BM9 greater than 3000 .145 4.97 2.6
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BM10 greater than 3000 .220 7.58 6.0 .175
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BM11 greater than 3000 .278 9.53 24.7 .720
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BM12 1340 .039 1.34 4.0
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BM13 greater than 3000 .127 4.35 6.5 .190
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BM14 greater than 3000 .793 27.20 22.6 .659
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BM15 930 .027 .930 6.6 .192
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BM16 1710 .050 1.71 7.0 .204
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BM17 2400 .070 2.40 8.4 .245
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BM18 greater than 3000 .385 13.20 21.9 .638
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BM21 greater than 3000 .170 5.83 74.0 2.16
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BM22 greater than 3000 .285 9.77 40.6 1.18
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BM23 greater than 3000 .165 5.66 64.0 1.87
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BM24 greater than 3000 .125 4.29 47.0 1.37
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BM25 960 .028 .960 greater than 150.0 7.17 246.0
---------------------------------------------------------------------------
BM26 507 .015 .507 81.1 2.36
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BM27 864 .025 .864 95.8 2.79
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Note that these are select samples and were intended to duplicate historic
results. They are not indicative of average grades over mineable widths.
The samples were selected, handled and hand delivered by a professional
geologist to Skyline Labs in Tucson, Arizona. Gold samples were fire
assayed with Atomic Absorption finish. Gold assaying over 3000 ppb were
re-tested via fire assay with Gravimetric finish. Silver was assayed via
Aqua Regia with an Atomic Absorption finish. Samples over 150 ppm were
additionally fire assayed with Gravimetric finish.
(i) Sample BM5 was the only sample of non-siliceous porphyry rock. It is
possible the USBM sampled an adit now collapsed and filled in 30 yards
to the east of this Hellix re-sampled adit. This result reinforces the
observation that only highly silicified rock contains economic gold.
(ii) Conversion using metric units where 34.3 grams per metric tonne (g/Mt)
= 1 ounce per metric tonne (oz/Mt).
It is interesting to note that the highest silver values were
located outside the four main target areas. Samples BM25 through
BM27 were taken from the northern portion of the claim block where
the rock samples were less silicified than the target areas. The
highest grade silver sample BM25 (246 g/Mt - 7.17 oz/Mt) was taken
from this area. Samples BM21 through BM23 were located south of the
target areas and all had values greater than one ounce per ton
(34.3 grams per metric tonne).
Hellix is very encouraged to find anomalous silver in addition
to anomalous gold in locations extending outside our four main
Margarita target areas. As a result of these latest findings,
pertinent samples will be assayed for both gold and silver.
Athabasca Property
Hellix is planning a work program on its Athabasca property near
Nelson, British Columbia. Details will be available shortly.
The technical portion of this release has been reviewed by
Qualified Person Laurence Sookochoff, P.Eng.
HELLIX VENTURES (TSX VENTURE: HEL) is engaged in the
identification, acquisition, exploration and development of gold
and silver properties in North America. Hellix has no debt (other
than short-term trade payables), and has positive cash flow from
fossil fuel production in Western Canada. All transactions stated
or referred to herein are expressly subject to TSX Venture Exchange
approval as well as all other applicable regulatory body
approvals.
ON BEHALF OF THE BOARD OF DIRECTORS
HELLIX VENTURES INC.
Frank Underhill, President
The forgoing is for informational purposes only, and is not to
be construed as an offer to buy or sell securities in any
jurisdiction. It may contain forward-looking statements. While the
data compiled by management is from sources deemed to be reliable,
actual future results may vary materially. Hellix Ventures Inc.
does not assume the obligation to update any forward-looking
statement and will not be responsible for any loss arising from the
use of this information. Historically reported results may not be
NI 43-101 compliant and therefore caution should be used in relying
on such statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Hellix Ventures Inc. Barry Underhill (604) 683-6657 or
Toll Free: 1-877-430-3113 (604) 684-4407 (FAX)
info@hellixventures.com www.hellixventures.com
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